Avery Schrader: Steering Modash's Global Expansion with $12M Series A

Deal News | Oct 31, 2024 | Change Ventures GmbH

Avery Schrader: Steering Modash's Global Expansion with $12M Series A

Change Ventures GmbH has backed Modash, a creator economy infrastructure startup, led by founder Avery Schrader. Modash, operating in a burgeoning market with over 100 million influencers and a potential growth to $35 billion by 2024, aims to bring order to the largely unorganized influencer space. Rejecting the common agency model, Modash focused on data and technology, achieving substantial growth as evidenced by quadrupled revenue and meeting all key performance indicators. The completion of a $12 million Series A funding round, led by HenQ, will support Modash's international expansion, specifically the establishment of a new headquarters in Toronto, aligning with their growing North American client base. This funding is a testament to Modash's innovation and strategic approach to the influencer ecosystem.

Sectors

  • Influencer Marketing
  • Technology

Geography

  • International – Modash is expanding its presence internationally, with a particular focus on its North American customer base.
  • Estonia – Change Ventures GmbH, the backing venture capital firm, is likely headquartered in Estonia based on its name and common practice in the region.
  • Canada – Modash is establishing a new headquarters in Toronto, indicating its strategic interest in the Canadian and broader North American market.

Industry

  • Influencer Marketing – The article discusses Modash's involvement in the influencer marketing sector, crucial for leveraging the expanding influencer market projected to reach $35 billion by 2024.
  • Technology – Modash distinguishes itself from agency models by focusing on data and technology, critical for its sustainable growth and innovation.

Financials

  • $12M – The amount raised by Modash in its Series A funding round to support international expansion.

Participants

NameRoleTypeDescription
ModashTarget CompanyCompanyA creator economy infrastructure startup focusing on technology and data to thrive in the influencer marketing space.
Avery SchraderFounderPersonThe founder of Modash, credited with steering the company towards significant growth and innovation in the creator economy.
Change Ventures GmbHVenture Capital FirmCompanyThe investment firm backing Modash, known for supporting fast-growing startups.
HenQInvestorCompanyThe venture capital firm leading the Series A funding round for Modash.